Evening Star Newspaper, May 17, 1937, Page 24

MISSOURI PAGIFIC DEFICIT REDUCED $8,095,236 Loss Compares With $15,241,695 n Previous Year. By the Assoctaced Press. NEW YORK, May 17.—Missouri Pacific Railroad Co.’s 1936 pamphlet report today disclosed a net loss for the year of $8,095,236, against net loss of $15,241,695 in 1935. Railway operating revenues were $90,421,931, against $74,550,935 in the previous year; freight revenues in- creased $14,328,969, or 22.50 per cent, and passenger revenues totaled $5,- 123,959, against $4,183,218. Guy A. Thompson, trustee, reported arrangements have been made to ac- quire in this year 2,525 new freight cars and six Diesel switch engines “to handle the increased traffic expected.” During 1936 the road purchased 1,500 box cars and 500 hopper cars at a cost of $4,675,360, which was de- rived from the sale of $3,578,646 of equipment trust certificates and treas- ury cash. Glidden Co. ‘The Glidden Co. of Cleveland, man- ufacturers of paint and varnish, an- nounced net profit of $1,683,254.20 for the six-month period ending April 30, as compared with $867,756.25 for the corresponding period of a year #go. No provisien for surtax is made on the undistributed profits. Pacific Gas & Electric. Pacific Gas & Electric Co. and sub- sidiaries reported for the 12 months ended March 31 net income of $25,- 202,035, equal, after preferred divi- dends, to $2.75 a share on common stock. This compared with $22,185,- 580, or $2.25 a share, for the 12 months ended March 31, 1936. American Crystal Sugar. American Crystal Sugar Co. re- ported a net profit of $1,807,707.14 for the fiscal year ending March 31, com- pared to $915261.49 the previous year. Earnings were equal to $3.80 a share on outstanding common stock, compared to $1.44 in the previous Yyear and $2.09 in 1935. Pet Milk Co. Pet Milk Co. reported for the March quarter consolidated net loss of $36,509, compared with a loss of $44,158 a vear ago. The company, a manufacturer of condensed milk, has plants through- out the country and headquarters at 8t. Louis. L. C. Smith & Corona. L. C. Smith & Corona Typewriters, . Inc., reported for the March quarter net income of $352,338, equal to $1.75 & common share, against $279.141, or $1.36 a share in the like 1936 period. The company has properties at Syra- cuse, Groton, Cortland and Geneva, N. Y, and Aurora, TIl. Texas Gulf Producing. Texas Gulf Producing Co. reported for the March quarter net profit of $220,442, equal to 25 cents a common share, compared with $210,111, or 23 cents, in the like 1936 period. The company has oil properties in Texas and headquarters at Houston. Sl T WHITE MOTOR SHOWS BIG SHIPMENTS GAIN 85 the Assoctated Press. NEW YORK, May 17.—White Mo- tor Co. reported for the first four months of 1937 truck deliveries of 4.- 219 units, a gain of 27 per cent over the like 1936 period. April deliveries were 1,301 units against 825 in April, 1936, and the largest for that month since 1926. — - PUT ON INACTICE LIST. NEW YORK, May 17 (#).—The fol- lowing stocks on the New York Stock Exchange will be transferfed from the active to the inactive list, effective today: 35G Paraffine preferred; 39V Reynolds Tobacco. 50 TONS OF LEAD SOLD. NEW YORK, May 17 (#).—The St. Joseph Lead Co. reports that 50 tons of pig lead from Southeast Missouri mines were sold yesterday at $5.85 per hundred pounds, St. Louis. MORE Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., May 17.—Pota- toes, old, 100-pound sack, 1.25a1.90; sweet potatoes, bushel, 1.00a1.60; yams, bushel, 75a1.10; asparagus, crate, 1.25a4.00; beans, bushel, 2.50a 4.00; beets, bushel, 1.25a1.50; cabbage, pointed type, hamper, 1.00a1.50; car- rots, crate, 4.00a4.25; cauliflower, crate, 2.00a2.15; celery, crate, 1.75a 2.50; cucumbers, bushel, 4.0026.00; eggplants, crate, 2.50a3.25; bushel, 1.25a1.50; kale, nearby, blue, bushel, 25a85; lettuce, Western, Iceberg, crate, 2.50a4.25; Southern, Big Boston, ham- per, 50a1.25; lima beans, bushel, 3.00a 5.00; mushrooms, 4-quart basket, 50a 90; onions, 50-pound sack, 1.00a2.00; peas, bushel, 1.00a2.25; peppers, crate, 2.00a4.00; bushel 1.75a2.50; radishes, nearby, red tips, bunch, 1all; rhu- barb, nearby, bunch, 2a4; spinach, nearby, bushel, 25a40; squash, bushel, 1.50a2.00; tomatoes, lug, 75a3.25; ap- Dples, bushel, 1.50a2.50; box, 2.50a2.65; grapefruit, box, 2.00a3.25; oranges, box, 2.00a4.75; strawberries, quart, 815a15. Dairy Markets. Live poultry—Broilers, Rocks, pound, 24a25; mixed colors, 23a24; Leghorns, 20a22; fowl, Rocks, 19a20; mixed cor ors, 18al19; Leghorns, 15a17; roosters, 10a12; ducks, 16a18. Eggs—Current receipts, dozen, 19; hennery, white, large, 20; rhedium, 19; receipts, 2,869 cases. Butter—Prints, pound, 34!2a35'2; good to fancy, creamery, 33a34; pack- ing stock, 16al7; rolls, 19a23; receipts, 317 tubs. Live Stock Market. Cattle—650, including 200 hold- overs; steers, cows and few mixed yearlings active at generally 25 cents higher prices than last Thursday; bulls steady; medium and good grade steers from 900 to 1,250 pounds, 9.75a 11.50; few plain and medium heifers and mixed yearlings, 8.50a9.65; odd head good grade cows up to 8.00; plain and medium grades, 6.2527.00; bulk low cutters and cutters, 4.75a 5.75; plain and medium bulls, 5.50a 7.00. Calves—300; mostly 50 cents higher than close last week; good grade veal- ers, 10.00a10.50 mostly; plain grades, 7.50a9.50; culls down to 6.00 or below. Hogs—1,600; mostly 5 cents above Saturday and 10 cents higher than Friday; pigs 10 to 20 cents higher than late last week; good and choice grades, 170 to 210 pounds, 11.30a11.55; prac- tical top 11.55; 220 to 250 pounds and 140 to 160 pounds average, 11.00a 11.30; heavy weights downward to 10.50 or below; 120 to 140 pounds, 10.35a10.70; god grade packing sows, 9.5029.75; hogs from ‘“‘doubtful” areas not represented in above prices, Sheep—650, including 50 holdovers; new crop lambs unevenly steady to 50 cents higher than close last week; good and choice grades Spring lambs, 13.50a14.50; trucked-in arrivals most- |1y 14.00 down; plain and medium | grade throwouts, 9.50a12.25; odd head | shorn slaughter ewes, 4.00 down. Sea Food Market. Catfish, pound, 3a5; dressed, 7a8; carp, 2a3; eels, 9a10; haddock, 8a10; herring, 3a4; mackerel, 8, rock, 10a 12; white perch, 6a8; yellow, 8al0; trout, 5a6; bluefish, 8a10; flounders, 12a15; croakers, 4a5; spots, 4a5; hard- head, 4a5; butter fish, 5a6; roe shad, 20a22; split shad, 15a18; buck shad, 15a18; soft crabs, dozen, 70a1.35; hard crabs, barrel, 3.50a4.50; crab meat, pound, 25a45; shrimp, 15a18; clams, large, 100, 90; cherrystone, 60a65; little necks, 50a55; frogs, each, 15. Tobacco Market. Quotations on old stock—Maryland firm leaf, nondescript, 3a4; common, 4al0; medium, 10a30; good to fine, red, 30a40; seconds, common, 3a7; medium, good to fine, 15a35. Grain Market. Opening prices were: Wheat—No. 2, red, Winter, garlicky, spot domes- tic, 1.3912; May delivery, 1.391,; set- tling prices were—wheat, No. 2, red, Winter, gralicky, spot domestic, 1.3912; May delivery, 1.3972. Corn— No. 2, yellow, domestic, 1.24; Western delivery at a premium over this price. Cob corn—Nominal. Oats—No. 2, white, domestic, 64a74; No. 3, 62a73. Except grain on track there is an additional charge of 11, cents per bushel on all sales of oats. Rye—No. 2, 1.30a1.35. Barley—93a98. Hay—Market holds steady to firm under a good demand for timbthy and clover mixed at 17.00a22.00 per ton, but it takes well-graded No. 1 stock to bring the price. Poorer grades hard to sell and market irregular on all | grades below No. 3 stock. — AT LESS Automatic GENERAL REFRIGERATORS 1-save on PRICE! 2-save on CURRENT! 3-save on UPKEEP! MONEY DOWN S 430 THRIFT Prices Start at $116.50 C in al RADI UNIT Sealed.in-Steel A MONTH PAYS FOR IT madels OLON O CO. 4835 GEORGIA AVE. Col. 0067 OPEN EVENINGS THE EVENING DU PONT ORDERS 52 ON COMMON Directors Call for Vote June 18 on Increase in Pre- ferred Stock. By the Assoclated Press. . WILMINGTON, Del, May 17.—E. I du Pont De Nemours & Oo. today declared the second quarterly “interim” dividend for 1937 of $2 a share on the common stock, payable June 15 to stockholders of record May 27. ‘The regular quarterly dividend of 11 per cent ($1.50) on the debenture stock also was declared, payable July 24 to stockholders of record July 9. Directors called a special meeting of common stockholders June 18, to act on a proposal to create 500,000 shares of preferred stock—$4.50 cumulative, without par value. This stock will be Junior to the present debenture stock. Price to Be Determined. “It is anticipated,” the compeny’s announcement said “that the newly created shares will be sold to under- writers for cash at a price to be de- termined later by agreement. The shares will not be offered to stock- holders and no rights to subscribe will be issued. Preliminary discussion re- garding an underwriting has been held with - Morgan, Stanley & Co., Inc.” The proceeds will be placed in the general funds of the compeny. “The company's cash and tempo- rary cash investments at March 31, 1937, the statement said, “amounted to approximately $73,000,000, and it considers that any substantial reduc- tion in this poskion would not be de- sirable. “The company’s most recent fore- cast of cash position for the 12 months ending March 31, 1938, based upon the continuance of a reasonable divi- dend policy, indicates that its cash and temporary cash investments may be reduced during the 12-njonth pe- riod to a considerable extent by cash expenditures for expansion of plant facilities and by increasedd working capital requirements to finance in- creased inventories and receivables re- sulting from a general expansion of the company’s volume of business. New Capital Needed. “The company believes that it is prudent to raise additional new cap- ital at this time to provide against the reduction of its cash funds which it expects would otherwise take place over the next year and to provide against contingencies calling for great working capital.” TOBACCO AVERAGE GAINS. NEW YORK, May 17 (#).—Average price for the week ended May 15 of U. S. type 12, grade B4F, flue-cured tobacco was 19.9 cents a pound, com- pared with 19.7 cents last week and 17.5 cents in the same week a year ago, according to H. A. Stich, tobacco economist. STAR, WILLKIE SCORES T.V.A. ACTIVITIE Commonwealth & Southern Protests U. S. Power Competition. B the Associated Press. NEW YORK, May 17.—Wendell L. Willkie, president of Commonwealth & Southern Corp., reporting to stock- holders, today protested against “un- regulated governmental competition in the production and sale of electricity by the Tennessee Valley Authority.” The annual report, which surveyed the public utility situation in the Ten- nessee Valley, also confirmed pre- liminary earnings figures showing 13 cents a common share, compared with 1 cent a share in.1935. Commenting on attempts made in behalf of the Southeastern companies of the system, Willkie said there have been many interviews and confer- ences, ‘“‘not alone with directors of the T. V. A, but with other Govern- ment officials in an endeavor to reach a solution of the problem.” He cited four principal proposals presented to the T. V. A. for compro- mise and added “none of these offers has been acceptable.” These proposals were: To close the companies’ steam plants and purchase all T. V. A. power; enter a power pool arrangement; sell the system to T. V. A.; or sell any part of the system to T. V. A. (all of which are contingent on the T. V. A's agreement not to compete). “In the absence of some solution of the problem it is felt,” Willkie said, “that it is our obligation and duty to advise the security holders and the public of the effect that the T. V. A. program is having upon our opera- tions. “We believe that the Government's power program threatens such ex- tensive injury to the property of the security holders that it should be promptly and fully disclosed to them, 80 that they will not be misled by re- assuring statements regarding pro- grams which will jeopardize their in- vestment,” he said. — HOURLY WAGES REACH HIGHEST ON RECORD By the Associated Press. NEW YORK, May 17.—Hourly earnings of workers in manufacturing industries are at the highest point since industrial statistics have been regularly compiled, the National In- dustrial Canference Board reported. A study by the board indicates they have risen from 24.7 cents an hour in July, 1914, to an average of 64.6 cents in the first three months of 1937. Weekly earnings have increased at & smaller rate, the road said, due to prevalence of a shorter work-week than in the pre-war period. They averaged $26.75 in the first quarter of 1937, compared with $12.68 in July, 1914, Not merely the usual flg‘jacket opening at the Top Béat yoursslf to foss4 OLD GOLDS WASHINGTO! 1L (E INVESTMENT COMPANY STOCK INDEX DECLINES Special Dispatch to The Star. NEW YORK, May 17.—The invest- ment companies common stock price index declined with the general mar- ket last week, according to the aver- ot MAY 17, 1837 ages compiled by Distributors Group, Inc. The average for the common stocks for 10 leading management companies influenced by the leverage factor stood at 21.39 at the close of May 14, com- pared with 23.08 on May 7. The average of five mutual invest- fent funds closed at 16.22 on May 14, y o) onperatiwith !:,-','3 at the close of| FREIGHT CARS ORDERED. e e we . Proviousimee! NEW YORK, May 17 (/.—Union - Pacific Railroad has placed orders for 3,800 freight cars, Railway Age re- STEEL QUOTATIONS. | ported, of which 2,600 will be built in NEW YORK. May 17 (M.—Bteel prices | its own shops, 1,000 will be constructed p'rmll)fl pounds f.0.b. Pittsburgh: | by American Car & Foundry Co. and an: led sheets. hot lled, : AR ety wRAD, B ita? 10| 20 tank cars by General American 8. 3.80 rolled. 3.18; steel bars. 2.45. W franklyout to Charm! 1 USE COSMETICS OF COURSE! BUT LuX TOILET SOAP GUARDS AGAINST ANY DANGER OF COSMETIC SKIN! See Columbida’s “LOST HORIZON" . with Lo Jane Wyatt * Margo Isabel Jewell Now Showing Locally ... but also an EATRA jacket opening at the BOTTOM Foolish to risk Cosmetic Skin EGLECT HER COMPLEXION? No screen star dares. Lovely skin is too important! Use powder and rouge as much as you like. But don’t let hidden traces of stale cosmetics remain in your pores to choke them. That’s when Cosmetic Skin appears—dullness, enlarging pores, tiny blemishes. Lux Toilet Soap’s ACTIVE lather re- moves stale cosmetics, dust and dirt thoroughly. “Of course I use it,” Margo says. Isabel Jewell—Jane Wyatt—have Lux Toilet Soap complexions, too. Have you? Remember, 9 out of 10 screen stars use Lux Toilet Soap! that ‘does it! LO‘OK at the top of the ordinary cigarette package with its single Cellophane jacket. Note the exposed folds and seams. Now examine the Old Gold package. Note that EXTRA jacket of Cellophane. See how it double-seals the top of the package . . . and double-seals the bottom of the package. Thanks to those TWO jackets of Cellophane, instead of one, the Old Gold package is both weather-tight and climate-proof. When cigarettes dry out, they die out. Neither is a soggy cigarette anybody’s en- joyment. In either case, the fragrance is gone. Smoothnessis gone. Pleasureis gone. Double-Mellow Old Golds not only give you the finest of prize crop tobaccos, but give, you cigarettes of guaranteed fresh- ness, no matter where you buy them. /